tv Trending Business Bloomberg April 19, 2015 9:00pm-11:01pm EDT
first property firm to default on dollar-denominated debt if it doesn't come up with $50 million by the end of today. furious seven racing past $1 billion at the box office, spending a third week on top. it is the top grossing film of 2015 so far. do follow me on twitter. business. malaysia, taiwan, and just about clocking in. the heat on wall street. >> look at that. a sea of red. u.s. equities slumping the most in three weeks amid a global selloff. investors have been weighing economic reports. we have data that shows in place
and starting to firm. consumer confidence at the second highest level in more than eight years. we are seeing expectations the fed will hike rates at any time. the dow jones and s&p 500 all falling. this has been impacting markets. japanese stocks falling 3/10 of a percent, led by developers and banks. the yen has been putting pressure on exports. we have the producer price index in today, falling 3.7% march, slightly worse than the 3.6% we saw the previous month. down.lia a s new zealand posted the lowest inflation and more than 15 years in the fourth quarter. analysts are saying uncertainties surrounding weighing onks is
shares. we had a cut on sunday. we had policymakers swinging into monetary stimulus mode. in about 30 minutes time i will be back when the markets open. thanks. cutting by the most since the global crisis. i guess economists were expecting this. i guess they got it sooner than anticipated. >> economists were looking for cuts of some sort by june, but the magnitude of this cut is much bigger than expected. the reserve requirement ratios were cut by one percentage point . that put requirements at 18.5%. it is still high by global standards. sum. no small
one problem china has always had is actual liquidity tends to not go where it is needed the most. been reluctant to lend to private and small and medium-sized businesses. there is a worry a lot of the liquidity is going to end up in the stock market and said of the real economy. we are seeing the central bank take steps. a big chunk of loans to agriculture and small enterprises also get additional cuts, half a percentage point. reserve requirement for the agricultural bank have been cut by another two percentage points. the bank is focused on rural areas and small businesses. bewill see how impacts will in coming months. right now we are seeing capital outflows, high interest rates, and we have a lot of structural issues within the economy. these moves may start to stabilize.
the big question now is when is the next rate cut. >> thanks, christine. ofwill have a detailed look the story throughout the program. do tweet your thoughts. defiant asemaining its creditors are under pressure for a deal. they show what they can do by mid-made to avoid a default. it's crunch time. >> that's right. amongt some pressure greece and creditors, but a lot going on this week. today about 80 million in interest on bonds held by the ecb. friday the ministers meet. the dutch minister wants to step back from this game of chicken.
ministerhe greek prime can show the government is win support from greek lawmakers. they are saying, we don't budge redline line. all sources say creditors may cut greece some slack. they have a redline. they need greece to submit to reform measures. you see councilmember saying emergency aid to greece should not extend past the summer. taking aernment bonds tumble. heels have more than doubled close to -- yields have more than doubled close to 13%. rishaad: let's find out more. here is david with a roundup.
>> let's talk about the recent investigation. a focus on whether a family member benefited from a recent sale. the governor had no direct role in deciding how much a family member was awarded from the specific transaction. he previously did say he did not do anything wrong and had been assisting with the investigation. minister foruty policy planning. these ongoing trade talks between japanese and the americans. progress hassaid been made in working level talks with u.s. counterparts, so that progresse tangible
tonight. access in japan and to u.s. arts in the there is still some way to go. he said both sides need to soften. is next key date for this april 28. let's talk about movies and the box office. if you are part of the army of moviegoers who watched furious seven, thanks to you, a cool billion dollars in ticket sales, making it the highest grossing at universal. furious seven is the fastest way to go from zero dollars to $1 billion in ticket sales. it has dominated the box office for three weeks. it edged out to new movies that
came out. 2 and to -- mall cop unfriended. avengers hits the theaters may 1 area whatever floats your boat. that's about it. back to you. story is theher capsizing of a boat with hundreds of migrants on board in the mediterranean sea. coming up, we take you live to the world economic forum, where we are going to be joined by the , talking about the electronic company. russianwill talk to the prime minister -- deputy prime minister as the ruble continues to be one of the best performing currencies. that's next on "trending business." ♪
rishaad: we are talking business as we cross over to the world economic forum. we talked to russia's deputy prime minister. haslinda: the russian economy is struggling with us-led sanctions. some say the economy will be in a recession. let's talk about the russian economy with the deputy prime minister. good to have you with us. thehe worst over for russian economy? some say they are already -- there are already signs of recovery. >> there are signs of recovery already. it can still roll over, but it is steady.
that,da: >> having said russia has lost its investment grade. a recession predicted for this year and next. why is there optimism when it looks pretty bleak? arkady: it was 140. now we are down 60. oil prices are not as important as they were before. money, andlate prices are high. >> it must he important. exports come to 60% or 70%. >> it is not as important as other things. you can have different prices and still grow. the more important thing is
financials. they can find new partners including in asia and china, we do that. haslinda: there are no signs they will end. cope?e russian economy arkady: also europe and other countries as the trade war is going down. we hope the personality will prevail over time. decision will take the , and we are working intensely in ukraine with our partners.
hope those steps will make the decision to leave the country. haslinda: the sanctions have forced russia to look towards asia, pivot to the east like the -- as opposed to the u.s. what are they trying to achieve? arkady: we have worked with asia .ver the last few years the demand is in asia. it is natural for russia and most european and asian countries to work more closely with asia, including china. trade with the chinese has been growing.
it is convenient to work with investors from asia. haslinda: it is not limited to economics. there seems to be more air and sea units. what are you hoping to achieve? >> certainly. china, india, brazil, and south africa. it's not just asia. its international. second, we believe the new , humanitarianwork connections, cultural connections. all those things are really , asrtant for the continent people should have mutual trust and people should believe in long-term growth that serves the whole country. haslinda: but the u.s. is crying
foul. obviously not happy with russian involvement in asia. your response would be? the growth is only positive. you are talking about win-win situations. you win economic growth. will take part of the global economy. theinda: we talked about importance of oil. russia and china signed several to beals which have yet binding. what delayed the process? up over the last five years. contracts arew calculated for three years so up, do not have will going
but we know what the number will be. that is binding. haslinda: just one question before we let you go. is it true that greece is in talks with russia on getting an advance payment of $5 billion for future gas transit to greece? can you provide confirmation? all kinds of were issues, including trade potential and financial assistance. those are under discussion. it is not concern a specific question. haslinda: would russia like to ?ome to greece's rescue
>> it's about partnership. we have a long-standing relationship. haslinda: thank you for that. we have been speaking to the russian deputy prime minister. we are coming to you live from the economic forum. >> the stories making headlines around the world. scouring the mediterranean first writers after a fishing boat with migrants capsized after the coast of libya. theonfirmed it would be deadliest such tragedy in the mediterranean. the italian prime minister said 24 bodies have been recovered and 28 rescued. they are calling on a meeting to deal with the issue. and christians appear to have been executed by the so-called islamic state in libya. a new video shows two groups of captives being killed and says the victims were christians
belonging to the hostile -- belonging to the "hostile ethiopian church." tens of thousands of indian farmers have rally to protest against government plans to ease rules for obtaining land for industry and development products. accused the prime minister modi of giving away farmland to industrialists in return for funding his election campaign. got to take a break. coming up, the latest on chinese anticorruption investigations. we will hear about spying from the security chief. ♪
rishaad: china's former security chief illegally spied on the countries top leaders, according to an investigation. people familiar with the probe telling us he may have collected information on president paying -- xi ping. was he spying? we do not know. >> he was the head of internal security in china.
he told his deputies to gather information on virtually everyone. >> what was the position to actually know? it is like asking how long is a piece of string. packs there were wiretaps involved. -- >> there were wiretaps involved. he was directed to keep an eye on everyone. >> what do we know? >> we know he is being accused of leaking state secrets. it appears some of his deputies are leaking information to foreign websites. we don't do what or who. clearly there is a chance this was motivated to monetary gain or to keep an eye on central rivals.
what is the significance? one reason is he was able to get away with taking down someone like joe. it just shows how powerful she is. joe has links to the former prime minister and the president. rishaad: that's the thing. some reports are he was warning before his arrest. andrew: it doesn't look like he heated the warnings. he is serving a life sentence. clearly the takedown is one of the reasons she is considered the most powerful chinese leader in decades. rishaad: thank you very much. the takedown.t you can watch us anywhere wherever you are.
just get the android app. algeria expecting oil to stay low for a long time. they say prices probably won't recover. comments coming ahead of what is expected to be a tense meeting. of a is seeing a bit rebound. it is still down by more than 40% over the past 12 months. let's have a look at what is coming up next. it is d-day for kaiser. will it be the first to default on dollar dominated debt? the market opens in hong kong. ♪
they are due in the middle of march. warnsropean commission greece needs a roadmap by mid-may. entering the fray when it comes to the asia-pacific. beenian stocks have following wall street today. sellout, asian stocks falling the most in three weeks. leaders are swinging into stimulus mode. they fell on friday, rising today. is big news in hong kong they have suspended training.
the market here has been almost doubling. it has an impact on asian markets. also drawing some concerns. in the nikkei we saw in negative territory early in the morning. it is swinging between gains or losses. south korea's cost befalling marginally. we saw the pbi falling in march. trading down half a percent.
the slowest inflation in more than 15 years in the first quarter. we had some reaction with the currency. it is having an impact on currencies. the australian dollar also strengthening because of that cut. the second reduction this year and the largest since november. rishaad: commodities and currencies are getting that boost. let's get to beijing itself. this puts china officially in stimulus mode.
christine: china has said it has the policy tools to support a 7% growth target it's set. it is backing that up with action. thank reserve requirement ratios were cut by one percentage point, affective today. that is putting requirements at 18.5%. that is quite high by global standards. rural financial institutions will see an additional one percentage point cut to reserve requirements. we'll have an additional half a percentage point cut. what this indicates is the central bank does want to see extra liquidity. most banks have been sticking to lending. we will have to see how much of
an impact these additional cuts will have. some of this will flow into the stock market. given the continuing capital outflows, high interest rate, it makes it more stabilizing. you are saying the money might find its way into the stock market. will it find its way into the property market as well? we did see improvement in home prices last month. the question is are people seeing that as a turning point? christine: the government does want to see some of this liquidity. we saw new home prices fall in 49 out of 70 cities. fall.ruary you saw prices
it is an improvement. overall housing prices fell over 9% in the first quarter. this is very far from a real turn around. it's more a slight improvement. we try to see how sustain this may be. thanks, christine. than three centuries ago sir isaac newton documented a certain observation. must come down. chinese authorities are reminding investors they are governed by a similar dynamic. closest you would have is if you look at the chart of the shanghai composite, i think we are down today, but we are seeing over 450 days without the shanghai composite seeing a correction of 10%.
today.down after the markets closed, two things. they are coming up with announcements. they are shutting down one avenue by which investors use to be able to leverage further. rishaad: it's a weird one. you had the cut the next day. are these people talking to each other? david: some of the pundits. it's wordy want the money to go. gets -- it'ss where do you want the money to go. it is close to $200 billion. ,ust this year record amounts so a lot of new traders out there.
people for the first time trading in the stock market. our guests are not so familiar with trading. >> david, thank you. pay $52e until today to million or become the first chinese real estate company to default. corporate finance has been tracking this. what is the latest? it is a bit murky, isn't it? >> at the moment there is no real clarity. technically, the company has until the end of the day to make the payment. it's likely we won't know for a little while. i think there is the expectation it won't be paid.
trigger crossght default. seen a return of the chairman. he has come back into the company. a time when no one heard from him, and he is coming back. we are hearing that his return has meant talks between offshore bondholders and the company and lawyers involved have slowed. no real clarity as to whether it has been paid or not. rishaad: are there other results? >> kaiser is also on shore.
they have various investments, but one of their units is the alternative energy group. they see that area is losing a lot of money. they are due to make $13.8 million equivalent interest payment tomorrow. they have come out and said there is some concern over whether they can actually make that payment. it isstinction is actually a state backed firm in china. that is an important distinction because we had two other companies default. the first was shanghai a little in march ofago 2014. then we had another one, which was actually a restaurant chain
turned internet company. that failed to make a payment last month. they were privately owned companies. there is a distinction. people are watching quite closely. the premier has vowed there will be made,s that need to and people are watching to see, will he let the state owned firms default. katrina, thank you. joining us from singapore. some other on stories. folks wagon may have taken a wrong turn in china. it failed to cash in on demand for budget suv's and minivans. meanwhile, the company was the top-selling foreign automaker in china last week. they have been offering discounts to attract chinese buyers. citroen expanse,
to hundred $16 million to develop a common vehicle platform. they have developed 20 new models. they aim to take 5% of the market in china. image at to up the home. the chinese carmaker is looking to build a sports sedan. it is to be unveiled at the shanghai show this week. the segment is currently dominated by models such as the bmw three series. chinese companies seek to step up competition to global automakers. up, we talked to the asia-pacific live.
>> the leader of the yemen rebels has vowed not to surrender in the bombing campaign in its fourth week. accusedevised speech he the saudi's of being servants for the u.s. in providing intelligence support for airstrike. the u.n. is appealing and urgent humanitarian aid for those affected by the fighting, which they estimate has killed almost 800 people. than 90,000 people have left their homes in the province of and bar. affairs humanitarian agencies are moving to provide food, water, and shelter. iraqi troops have struggled against militants in and bar. norway has demanded and it nation from moscow over a visit by russia's deputy prime minister. on sunday officials expected of
floating sanctions to the north pole. but they over -- a day earlier the posted pictures. he has been banned from visiting after under eu sanctions the annexation of crimea. rishaad: we are asking what does the weekend mean for the yen? executive the chief for hitachi. haslinda. haslinda: the focus on japan it has been three years since prime minister abbe took the top spot. have improved,ts but the ordinary japanese are not feeling the effects. let's put that in perspective
with the ceo. he joins us this morning. good to have you with us. abenomics.n what is the corporate take as well? strongs facing a challenge, but i think he is doing very good. japan has been suffering from long-term stagnation of the economy. it is not easy to pick it up so quickly. haslinda: but time is of the essence. yes, but we are hoping he will continue this pace so he can be a success. haslinda: japanese companies like hitachi and toyota are bringing their production needs thebut japan
productions back. ichiro: is that happening? ichiro:hitachi will continue in japan. we will also continue outside. we are trying to use japan for technical development type of resourceswe can spend on advanced or basic technology in japan. then we will bring that technology outside to start demand. haslinda: is the weaker yen helping? the yen is down 30%. it's much cheaper. >> the cheaper yen will definitely benefit from but we also have many products outside, so it is a balance. haslinda: do you see the yen remaining at that levels? >> i'm not an expert, so i can't tell that.
haslinda: when it comes to hitachi, it is putting a huge bet as well. you said you are very optimistic, but it's a challenging market. how'd soon -- houston do you feel investments came back? it is difficult for me to tell. i think india is starting to demonstrate the delivery day promising. the government is very much putting strategic plans and reforming regulations, so i think we will soon see the result. haslinda: what is your strategy in india? ichiro: we are committed to building long-term social infrastructure of india. haslinda: in terms of investment, what are you looking for? you have about 10,000. what are the expansion plans specifically? year ofit is the last
the plan. we made a commitment to invest 70 billion japanese yen from 2012 until 2015, and we are pretty much on the right track, so i think we will be doing good. haslinda: you mentioned earlier about the railway system. are you in talks with indian companies? what exactly are your goals when it comes to this sector? ichiro: we are pretty much engaged in the large project, which the japanese and indian government already agreed to. there are dedicated packages. we are looking at a contract with indian government pretty soon. haslinda: other than india, what
asian markets? we are engaging in vietnam right now. we are looking at high-speed railway from malaysia to singapore. there are a lot of opportunities. not only metro high-speed. we are interested in safety control systems throughout in various countries. haslinda: hitachi said it wanted to raise revenue. is it on track? how do you plan to achieve the goal? a strong sector. we try to engage financing and the banking sector. i.t. solution companies in the regions. we are also looking at health care. i.t. will be playing a big role into the infrastructure. haslinda: we have to leave it
they have great charts. we re-created some of these charts. the first one i wanted to show you, hillary clinton announcing on facebook. back to thehis data start of the year. clinton is in white, as you can see. together, almost 29 million mentions on facebook. dominates.ly you take clinton out of the chart, and you have ted cruz dominating. no surprise. he is behind at this point in time. a lot of data in the conversation we are following. >> it looks good.
my looks good as well. we are used to seeing kim .ong-un i think this latest one scales new heights. out froms have come the north korea news agency over the weekend of their leader, who climbed the highest mountain in north korea. not bad. there to honor his father's memory. his father was born there. that is disputed. he went there and post with the pilots. on twitter aren't really buying whether he actually newsed it like the korean say. they are saying he didn't climate. he was helicoptered him. they say he couldn't have done that with the clothing he was wearing. david: it is pretty cold.
rishaad: it's monday, the 20th of april. ."is is "trending business i am going live to beijing, jakarta, and mumbai. here is a look at what we are watching with china on easy street. cashentral banks free up with the amount banks have to set aside as reserve. a spy on the inside. chiefs former security
they are saying illegally spied on the country's top leaders including president xi jinping. it will lift its units in the philippines and indonesia. the philippines could be the jewel in asia's crown. we will talk about that in about half an hour from now. do let us know what you think about our top stories. follow us on twitter. just seeing this breaking news story coming that a tsunami of up to one meters high may hit japan. the tsunami may have already reached that as well. we have an earthquake of the center of in
taiwan. this as breaking news is coming through. coming earthquake through off the coast of taiwan. a tsunami up to one meter high .ay hit japan we are keeping tabs on that for you. just getting trading underway in indonesia. generally a sinking feeling. >> good morning. asia benchmark index slightly down, but today the big in china,unday leaders are swinging into stimulus mode. the hang seng and shanghai composite swinging between positive and negative territory. right now the hang seng expanding friday's losses, down at 2/10 of a percent. we also have news in hong kong that hutchison has suspended trading.
there will be a meeting around 11:00. people are saying there will be talks on restructuring. shanghai composite also falling 8/10 of a percent. curbing the gains we saw last week. china's stimulus hitting the forex market in asia. we have the kiwi dollar climbing after the move. australia is china's largest trading partner, currently down 9/10 of a percent. new zealand also down half a percent. we have new zealand posting the slowest inflation in more than 15 years. analysts are saying the uncertainty over the chinese stock market is across asia. jakarta is open today. it fell on friday. it fell at 2/10 of a percent. japanese stocks were down this
morning. the south korean cost be index is down. inhad the pbi index falling march. shares.d see chinese banks are on the way up. requirementseserve by the most since the global financial crisis. over to beijing. economists were expecting this certainly, but not of this magnitude and perhaps not now. both the premier and central-bank have been saying aina has the tools to support 7% growth target it's set. that is what we are seeing. most economists were expecting a cut by june. they definitely did not expect this magnitude of cut. bank reserve requirements were cut by one percentage point. and put the requirements
18.5%. pretty high by global standards. it will inject close to $200 billion into the system. so for liquidity has had limited impact. banks are reluctant to lend to private and smaller businesses, given the risky environment and slowing economy. to try to channel more of these funds into the area, the central cuts toing additional rule financial institutions. certain month of lennix to agricultural and small businesses. the agricultural bank will have reserve requirements cut by an additional 2%. some of the liquidity will no doubt flow into the stock market. china officially in stimulus mode. certainly this helps stabilize the picture, but we are seeing the environment remains tight. what matters is whether the real economy is getting stimulated. that is what we have to see. at thatll have a look
story. we want your opinion. do tweet us your thoughts. greece while remaining defiant, creditors are pushing up pressure for a deal. canzone is demanding they deliver by mid-may. that would be designed to unlock new aid payments and avoid a default. it is essentially looking like the endgame. is it crunch time? asked the pressure is on. there are talks over the weekend between greece and its creditors, but a lot going on this week as well. greece needs to repay about 80 million euros of interest in bonds held by the ecb, and on friday the finance ministers from the euro zone area meet. the dutch minister that leads the group wants to step back from this game of chicken, and it will be a chance to lay a
path for a may agreement. one way greek minister tsipras can show he is serious is with the signal of support from greek lawmakers. if greece continues to stand its , saying, we don't budge from our red line. sources tell us creditors may cut greece some slack. they have their own redline. they say greece needs to commit to at least some economic reform measures. sayingnseling members emergency aid to greece should not extend past this summer. we saw last week greek government bonds had the worst week since the greek elections. let's have a look at some of the other stories we are watching. here is david. david: one of our top stories is china's former security chief. this is something you might want
to listen to. it seems out of the spy movies. we have heard from two people familiar with the ongoing investigation that evidence has of unauthorized spying on china's leaders. was said to have used methods to gather information on family assets and even the private lives of those leaders. he used to be one of the most powerful figures in china, having retired from the standing committee in 2012. he is currently facing charges of leaking party and national secrets. those have yet to be divulged. is the highest ranking individual caught in this and hasuption campaign,
said previously this is necessary to preserve legitimacy. those efforts were focused on whether a family member of the benefitednk governor from the treasury bonds. the report show the governor had no direct role in deciding how much a family member was awarded from a transaction. he has been on leave of absence since last month. he previously said he did not do anything wrong and had been assisting with the investigation. according to the deputy minister, the details of the report will be presented to parliament in the coming days. to ongoing trade talks between japan and the united states. minister for the economy in japan. he basically said progress has
been made in talks with his u.s. and itpart last night basically sets up more tangible progress today. the biggest sticking points in to thealks are access politically sensitive agricultural sector in japan and the auto parts industry in the u.s. in japan's case it is about reducing barriers further. he said both sides need to soft and their stance. the next few days you might want to watch out for april 28. that is when shinzo abe travels to washington. >> another story we are following is how the world is bracing. find out why. do check it out. greatest, and
investments is pumping in a huge amount. is there a reason to rethink the strategy, given that china is showing signs of a slowdown? >> we are continuing. gestation, be longer but i think consumer spending will still go on. haslinda: you are just back from china. >> it is because we are in the consumer industry. i don't think there will be a big slowdown. housing, butrms of is a little bit of slower growth in consumer spending, but it will be there. haslinda: let's touch on housing. would you have to rethink what is built, given that luxury is
no longer what the chinese are after? max we are not in the lecture he business. we are more like a community center. i think we are doing ok. about ghostey talk cities and developments left empty. is that a concern for you? we are ok. haslinda: what are the risks you see at this point? china is not one of them. >> it's a matter of getting our returns a little bit longer than expected. we are confident we will reach it. islinda: the other market the philippines. what is your take on the outlook five years down the road? >> the philippines is continuing its growth. i think the growth will be maintained. haslinda: elections are coming?
elections are coming. continue to bell the same. haslinda: you have also expressed interest in running airports in the philippines. why might you be interested? teresita: we are not. we are just participating. haslinda: in the bidding process? teresita: not really. it's just wherever there is opportunity we will be there but not really in terms of infrastructure. haslinda: where does it come from? >> there are still a lot of underpenetrated areas in the philippines. i think our growth will come from serving those underpenetrated businesses. haslinda: lots of foreign banks
have expressed interest in getting in. ties in with foreign banks. is there room for that? what does it mean for companies? we are very open and the way we look at our business. we have strengthened our self. them, weer we join compete or we join them. do you expect it to be heated up with the interest in foreign banks? teresita: i think so. haslinda: you talked about the outcome. would it be affected by the impending rate cut by the fed? i think so. the philippines is not a big country. whatever happens in the global arena, it will affect us.
haslinda: we have to leave it there. she is the vice chair of the company. battalion and multi's troops are scouring the mediterranean for survivors after a fishing boat capsized after the coast -- off the coast of libya. if confirmed this could be the deadliest such tragedy in the mediterranean. saidtalian prime minister 24 bodies have been recovered and 28 people rescued. he called for an emergency meeting on friday to deal with issues. at least two dozen ethiopian christians appear to have been executed by the so-called islamic state in libya. a new video shows two groups of captives being killed but says the victims were christians belonging to "the hostile in ethiopian church to go ethiopia says the victim's nationalities have not been confirmed, but it matters the act in a where the captives are from. india's farmers have rally to
protest government's plans to ease rules for obtaining lands for development projects. the prime minister of giving away from land to industrialists in return for funding his election campaign. take a break, but of next, another milestone for kim jong-un. we will check how he is trending online right after this break. ♪
rishaad: $1 billion by 2020 to boost market share. down alongside the economy as well. stephen engle reports from the shanghai auto show ahead of the official start this week. stephen: no need to adjust the color on your screen. there is a murkiness that permeates more than just the environment. economic growth is slowing. the auto industry has matured to the point there is not much visibility. chinese sales are forecast to roughly the year, same pace as last year. that is half of what it was in 2014. pension at some dealerships who
cannot meet lofty sales targets and are asked to skim margins to move stocks. >> the margins reached a new normal. rates are slowed down. enviably solid growth rate. >> we are about putting 5 million plus this year. beijing and shanghai alternate every other year, hosting china's largest car show. it seems like every few years the cities try to outdo each swankyn an ever larger exhibition center. thing that is not new is china's love of suvs. not necessarily for an suv's eight of the top 10 selling were chinese brands. recordhey reported vehicle deliveries last year,
but for the first time, the big foreign carmakers are being outsold in the hottest segment. >> they priced themselves in the top and, leaving open a price point for chinese suvs to occupy. theould be what gives them opening to build the image of some of them -- some of them will be able to prove they have evolved from being bottom feeders to making quality products. ofit is about half the price the vw suv. after learning from their partners, chinese brands have narrowed the quality gap. foreignof just copying competitors with inferior products, chinese brands are proving to be much more competent at the imitation game. let's have a look at
what is trending on social media. we have a look at that and kim jong-un. that in a get to moment. here are some pictures of the north korean leader. u.s.are basically tracking presidential elections, and they are looking at two things. they are looking at who is the most talked about. the most talked about in a positive light? are talkingpeople about you. they are consummate your prospects. we were talking about hillary clinton. it's a fairly complex chart we are looking at. of all the names that have been brought up, hillary has the most mentions at 10 million. positive, how much was in a positive light.
not much. 50% only. the most positive -- let's take hillary out and look at the gop. we take away three names here. it pays to officially announce your candidacy. pictures.ome great packs of kim jong-un. he has been scaling new heights. we have pictures released by the north korea news agency over the weekend. at the top of the highest mountain in north korea. 2715 meters. towent there to pay homage his father, kim jong in a not so sure how he got there. one person is saying he had a
european officials warning greece it needs to produce a roadmap to economic recovery by mid-may to avoid a default. the eurogroup meeting this week in lot be >> seeing some downward pressure today. the triple cut on sunday by china. hunt saying currently calling for tenths of a percent. analysts saying that the uncertainty surrounding the chinese stock market is now being felt across asia. getting some uncertainty over china but also those ppi numbers coming in at
-3% falling. also posting its lowest inflation in more than 15 years in the first quarter. that is putting some downward pressure on the stocks there, down 6/10 of a percent. but, ending the session marginally lower. winner ining a clear the japanese stock market. we have panasonic rising 2%. panasonic that profit likely climb 70% for the year ending in march. that is according to nikkei. profit their health by structural form. helped by structural reform.
the makers of bottles for beer and wine coming in at $6.6 million for per luminary profit, more than doubling the forecast. their preliminary profit coming in at 51 million dollars being the forecast by 5.6%. they are not doing great, down 7 -- down 7/10 of a percent. .8%. wall down $.10 is now saying that they will buy additional shares, $400 million worth. that would be the equivalent to craigslist in the u.s. but they are down a 10th of a percent. don't forget, today in hong kong
, in about half an hour we had a meeting explaining the situation there as restructuring goes on. back to you. equity markets may be falling but commodities and currencies are getting a boost from the cut in the chinese bank reserve requirements as the financial crisis. let's get to beijing because christine as they are having a officiallyis now china and stimulus mode? yes, china is officially and stimulus mode. most economists were expecting a cut of some sort by june but the size of the rrr cut is more than expected. ratioserve requirement are cut by one percentage point effective today which puts reserve requirements at 18.5%. by global standards, still pretty high.
far, it has meant that banks are very reluctant to lend to private and smaller businesses. this time, the central bank is cutsgiving additional rrr to rural financial institutions, banks with a certain percentage of lending to agriculture and small businesses, and the agricultural development bank which will have an additional 2% cut from his reserve requirements. some of this money will find its way into the stock market, of course and hopefully channel money into the real economy and realital outflows interest rates have made a finance environment very tight. it was saturday that we get the latest home price details. these were the numbers for march. an improvement certainly. improvement is
really just kind of an overall average. we saw new home prices falling 49 out of 70 cities tracked by the government, comparing that to february when we saw 66 out of 70. in january we saw 67 out of 70 with prices falling. across the board, prices are falling in less cities. we are also seeing home prices rising in chin jin and beijing -- schenzen and beijing. it is an improvement overall across the board but housing prices still fell over 9% in the first quarter. this is really more of a slight improvement in a bad situation anyways. and we still have to see how sustain this improvement might be in april. there are still some real risks in the sector.
banks are still wary to lend to customers. spreadt know if it will beyond shenzhen developers. a lot of volatility of these we're seeing some less discouraging signs. >> thanks for that. let's check on some other stories. believesof japan inflation will reach 2% by the end of this financial year but the imf is not so sure. it has been harder to estimate the time frame because of volatility is in energy prices. the imf said they expect japan's prices to go up by 1% this year kind of -- this year, only halfway to the boj's target. if it doesn't pay just over $50 million by the end of today. that comes after 830 day grace.
ended over the weekend. the company owed $10.5 billion to local lenders as of the end of last year. at the moment, just waiting for news out of kaiser -- out of kaisea. according to universal, it is the fastest movie to reach $1 billion worldwide. we are talking about "furious seven." it has really seen off the competition from seven new releases coming on screen. the success has raised the possibility of a record-breaking $5 billion summer at the box office. of course, you can get more on the seemingly unstoppable success of this particular film
franchise anytime, anywhere. just download the bloomberg plus apt to your mobile or tablet, available for android, apple, or windows operating systems. ♪ heading back down to jakarta. the world economic forum on east asia. one of the people represented bets big on southeast asian countries outside of its core market, air asia. we can find out more of what is happening here as we head back to jakarta and joined tony fernandes. high tony, how are you doing. let's start off with the mood currently. i think i am going to start off
with the possibility of an ipo in indonesia where you are. went to we expect this? ati think we are just about that point. we have put together our five-year plan and we're feeling very bullish about both countries. i think we will make the announcement in the next couple of months. i would imagine the ipo would be early next year, but very complement -- but very confident about the businesses this year. some very good discussions on the aec, which is of course good news for air asia. though there is lots of work to be done, the optimism in the international community is gaining pace. rishaad: in the philippines and indonesia, will they be set for an ipo. if so, who would go first question mark -- who would go
first? i would imagine indonesia would go first and we would have a gap between the two. just seeing the huge potential, it is probably our jewel in the crown. barley,lways been about but there is a tremendous new tourism opportunity. secondly, cities and indonesia are booming quicker than jakarta. they are very bullish in terms of developing international links. rishaad: let's move to japan. there has been a lot of talk about skymark. give to credence to you these reports and if they do have credibility, how far down the line are you talking to them? it a good shot and we don't think it will proceed.
backwards is a step because you have two huge japanese airline groups and consumers will have less choice. but we are excited about going back into japan. we are now in the final stages of our application. i think the tourism market in japan is exploding and with a -- i thinkof a push there needs to be an airport solution in tokyo, but we are very optimistic about being in japan right now and look forward to launching our airline next year. would they put chinese tourists into japan itself? tony: very much international, that is our bread and butter. i just returned from china where we had an incredibly productive few days there. very open, lots of great development in airports outside
of beijing and shanghai. what the positive movements in terms of terror -- in terms of tourism. builtperor structure is and -- the infrastructure that is built and enables us to act quickly. oil priceith the being at levels like this, have you already locked in your hedges because it seems like it may creep upwards? we may have seen the bottom according to some. we have we --tony: hedged 50%. i have never been a big believer hedge thisbut we time because we want to build a business that can cope with any oil price. we think there is a downside because shales have supply and people are getting more efficient. oil.e not so worried about
we are growing a very very strong ancillary income model. i think that will be a lovely buffer whatever the oil price is. at present rates we will be very profitable this year. rishaad: very quickly, how much more they cost can you extract? i think your car space is at its lowest per employee now. tony: yes, it is at its lowest. technology is the big drive. today we are announcing home check in. you can check in from home, print your baggage tag, and just drop your bag in the airport. that will take a lot of cost out of the system. next year we will get our new airplane which is more efficient and lighter. the thing i've been fighting for for the last 14 years is that airports are not jumping into the game. they want volume, they have been reducing their charges.
it is estimated to of killed more than 800 people. fighters in the iraqi province of mr have advanced -- iraqi province of anbar from isis are advancing. 90,000 people have fled their homes. norway has demanded an explanation from moscow. officials inspected a floating russian station near the north pole. a day earlier, they posted pictures from the norwegian island of svalbard. rishaad: the apple watch finally reaching the risks of customers this friday. in singapore is john kim, senior
product officer for expedia. how will this work on your apple watch should you have one? >> the way the expedia app will ark is that after you book trip on expedia, you have your itinerary on your phone and you will be able to then send alerts to your watch. the type of alerts that consumers are interested in our anything from flight changes to gait changes to wear their bags are to what time to check in to check into the hotel, check out of the hotel, giving them directions from point a to b. of course, you had a nap for the samsung year. -- samsung gear. what to do learn from working on that smart watch that you employed in the apple watch? >> the two things that we learn -- one is that when you where
the device and walk around the world, people take notice. the reason why they take notice is that they are intrigued by the idea that you might have this instantaneous access to the power basically as part of your body. what we also learned is that what that power is extremely exciting, usability is still a core issue. one of the things that i have still very hopeful for is that apple, because they are known for usability, they might solve these problems and give consumers access to what they want, which is more instantaneous access to the internet. here,d: isn't it the case you are you probably have this on your apple device, the iphone or ipad, why have this second relayer? >> i think that one of the things that we notice, and we see this in almost every channel, is that people tend to
configure their devices -- let's if e-mail -- that over time, you are checking it frequently you tend to ignore it. and people are getting too many notifications. now, a device that you actually wear, where you might feel the vibration or hear it more likely, we think this is the next frontier and a new form of intimacy that consumers will have with their device, which is something that they have on them all the time. because we have this new device or this new form of intimacy, we think that the notification sent there will be different. john, isvery quickly this at the center of what you do now essentially at expedia? >> i think that mobile is definitely the center of what we do. at the same time it is not. we are looking at all these
devices trying to figure out how to optimize experiences for them. at the same time, i am asking my engineers and tech people to focus on the data platform. in the future, we have to be able to anticipate and predict when we should send messages and data to our consumers. that should happen regardless of the device in the channel. rishaad: thank you. john kim joining us from expedia. coming up, why the air to ir to india's most famous family is fighting for farmers. ♪
raul gandhi joined tens of thousands of indian farmers as they protested land acquisition reforms. >> roybal gandhi, back is nearly two-month long sabbatical to congress, on sunday declaring an all-out war against the ruling national democratic alliance rest -- alliance led by prime minister modi for his anti-farmer policies at a farmers rally organized in new delhi protesting the changes made to the 2013 land acquisition bill by the bjp. modi of introducing backand acquisition to pay people who helped put him in power. the rally was attended by an estimated 800,000 strong crowd of farmers brought in by trains
and buses from neighboring villages. it did not remain a solo show. wasequally sharp criticism given by others including the former prime minister of india saying -- india, singh. the second budget sensitive parliament begins today in india. the single largest party in the upper house had blocked the modi government's land moves last month and is expected to do again. said that farmers were now living in fear as they felt that the government had not supported them and was looking out for big industries. rishaad: thank you for that. asia edge is next.
accused of spying on the top leadership. >> also coming up this hour, shanghai surprise. china's biggest motor show is set to open. billion-dollar baby. furious seven could drive a record-breaking summer at the box office. officials sayan kim jong-un has scaled the highest peak in the country. asian stocks today trending --er, falling -- causing following a selloff in the u.s.. leaders are fleeing into stimulus mode. shanghai rising 1% for the first -- for the third consecutive day.